Green Deal in Trouble: Government Withdraws Support for Green Deal Finance Company
On the 23rd July 2015, the Department of Energy and Climate Change announced that it would no longer fund the Green Deal Finance Company (GDFC) who have provided energy-saving alternatives and information to home-owners and companies alike, including access to financial loans to help carry out improvements on a “pay as you save” basis since 28 January 2013.
As the GDFC are the only active provider to help facilitate improvements relating to energy efficiency standards, the fact that the government has withdrawn its funding has thrown uncertainty to the success of Green Deal. So what does this mean for individuals hoping to raise finance to provide their energy rating?
Although, any existing Green Deal Plans will not be affected, those who have already paid for a Green Deal Assessment and who have not confirmed the works or had their Green Deal Plan approved, may need to seek alternative sources of finance. Furthermore, those individuals who are unable to raise finance due to a poor credit rating can still qualify for other schemes designed to help in this situation, including help from the Energy Company Obligation, Green Deal HIF, the Feed-in Tariffs Scheme, the Green Deal Communities Fund, the Renewable Heat Incentive and the Landlord Energy Saving Allowance.